Enigma, eccentric, exceptional, endearing
The price of independence versus Because men have always in the past controlled history, it follows that there have always been more biographies about men than women. Some women did rate their own tome, usually they were the wives of a famous man or even more rarely, led such an amazing life, that their own life story deserved to be recorded for posterity. Hetty Howland Robinson Green belongs in the latter category. Born in 1834, Henrietta Howland, Hetty grew up during a period in which the United States was undergoing unprecedented growth. Names l Such as Vanderbilt, Carneige, Morgan, Astor, and Rockefeller formed the informal boys' only club that would ride the heady, wild wave of the Gilded Age. But if the men of the time were amassing fortunes and powers, Hetty Green could teach all of the others guys lessons about finance and she did. The only daughter and only surviving child of Edward Mott Robinson, originally of a noteworthy Philadelphia family, had come to New Bedford MA as a young man to try to establish himself in what was the lucrative business of whaling. Not only did he become employed by one of the most successful whaling companies of the time, Isaac J. Howland, Jr. and Co., he married the daughter and heiress of the huge firm, Abby Slocum Howland. Eventually he would take over the reins of the company expanding its assets and wealth. Showing a particularly adept acumen for business timing, Robinson would drive the company forward until just before the demand for whale oil and the other related products began to wane, liquidating the company assets and searching for other avenues for investment. Although Hetty's father did not hide his disappointment that his first child was a girl, he would soon have his heir in a son that he could tutor in the ways of business. Unfortunately Isaac Howland Robinson born in 1836 was never as strong as his sister Hetty and died in infancy. With his heir gone, Howland began to take more interest in Hetty, taking her with him as he attended to his duties at the whaling company. His daughter would come to be not only her father's companion, she would also from a young age read to her father regarding stock market activity, business trends, and political news. Even though she was becoming an asset to her father, Hetty was not a docile child and her caretakers discovered that a bribe, not of candy or toys but in the form of a coin, would produce cooperation from their young charge bringing her into compliance. And once she got the reward, she was loath to part with it. She accumulated any money that came her way, eventually opening her own savings account by the age of eight. While most young girl's would dream of clothing, parties and romance, Hetty's prime focus was on the accumulation of her wealth, compounding of her wealth, and protecting of her wealth. Although she would eventually marry and have two children, her Quaker roots would prevent her from acquiring so much of the ostentatious show of materialism that was flaunted by many of the other families that rocketed into wealth during this time. Hetty didn't build a mini palace in New York like Mrs. Astor did. She preferred to live in modest apartments in the middle class areas of Brooklyn or Hoboken. Instead of a fancy carriage or automobile, she took public transportation or walked. Instead of dining in restaurants, she would bring dry oats in a bucket when she left for her borrowed office space each day. At lunch she would add water to the oats and cook her porridge on the radiator. She had, however, a brilliant business mind. She had her father's sense of timing and when other's panicked, she remained steady and used the downturn to buy additional but deeply discounted investments. She lent money to churches, corporations, and even the City of New York. Before the Federal Reserve, she provided a supply of cash when the customers of banks and savings and loans were being besieged by panicked depositors. During the financial crisis of 1907, she was the only female invited to collaborate with J. P. Morgan and other financial mega stars on a plan to right the careening ship of the economy which was being overwhelmed by investment losses and bad loans Hetty was certainly an eccentric sight as she made her way around the financial sector in New York wearing her outdated, often dirty clothes, unfashionable hat whose flowers and feathers had seen better times, and carrying a large black valise which was rumored to carry fabulous sums of cash and securities, but which more likely only contained the remnants of a lunch more appropriate for a miserly laborer than a woman worth around $200 million (ten times that much in today's dollars). For Hetty Green, money provided a refuge for what would now be euphemistically referred to as "eccentricities." Even without her considerable fortune, however, she had a philosophy that was beyond any amount of wealth for "she had her life and dared